USD/CAD Forecast Feb. 27-Mar. 3

After a few positive auctions, the GDT Price Index disappointed with a drop of 3.2%. It is followed by 0.7035, the low seen in October 2016. Technical lines, from top to bottom:The round number of 0.74 served as resistance and support back in 2015. 0.71, a round number, was a double bottom in October. Overseas Trade Index: Tuesday, 21:45.


As it stated in

USD/CAD Forecast Feb. 27-Mar. 3

It is the final support line for now. RBC Manufacturing PMI: Wednesday, 14:30. 1.3124 remains a weak resistance line. Canada's current account deficit narrowed to C$18.3 billion in Q3, but this was higher than the forecast of C$16.4 billion. Here is an outlook on the major market- movers and an updated technical analysis for USD/CAD.




Here is an outlook for the highlights of this week and an updated technical analysis for GBP/USD. In January, the index showed little change with a reading of 55.9, matching the forecast. In the UK, Second Estimate GDP posted a gain of 0.7%, edging above the estimate of 0.6%. Still, the dollar failed to gain ground as the the Trump administration is yet to outline its economic agenda. The PMI dropped to 52.2 points in January, missing the estimate of 53.9 points.


collected by :John Miller

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